Spatial Genomics & Transcriptomics Market to Hit USD 995.7 Million by 2029 with 12.4% CAGR | MarketsandMarkets™
DELRAY BEACH, Fla., Jan. 13, 2025 /PRNewswire/ -- The global Spatial Genomics & Transcriptomics market is expected to grow to USD 995.7 Million by 2029, up from USD 554.5 Million in 2024, at a CAGR of 12.4% over the forecast period. The spatial genomics & transcriptomics market is expanding under the influence of factors including rising acceptance of spatial genomics and transcriptomics techniques for drug discovery and development and growing R&D investments and public-private funding, motivated by introduction of technologically advanced instruments for spatial genomics analysis. Still, the huge capital expenditures connected with spatial genomics and transcriptomics create major challenges.
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Based on Offerings, the market is divided into products and services segments. In 2023, the product segment accounted for the highest share of the spatial genomics and transcriptomics market. The growing demand for high-resolution spatial gene and protein expression data in research is mostly responsible for the huge variety of products. Still, the second-largest portion of the market was the service segment. The demand for premium geographical data in precision medicine is driving the expansion of the service segment.
Based on Product, the market is divided into instruments & software, and consumables. In 2023, the category with biggest share on the market among is consumables. Important reagents, gene panels, assay kits, and other supplies for sample preparation and data analysis define reagents and consumables. Growing uses for spatial genomics in medication discovery and research to drive development explain the expansion of this field.
Based on Technique, the market is segmented into spatial transcriptomics and spatial genomics. While the spatial genomics segment was expanding at fastest rate, the spatial transcriptomics segment accounted for the biggest proportion in 2023. Further segmentation of spatial transcriptomics involves immunohistochemistry (IHC), immunofluorescence (IF), microscopy-based RNA imaging, In-situ hybridisation (ISH), laser Capture Microdissection (LCM), RNA sequencing and other transcriptomics techniques. Further divisions of spatial genomics are in situ hybridisation (ISH), laser capture microdissection (LCM), genomic sequencing, and other genomics techniques.
Based on Type (Service), the spatial genomics & transcriptomics services market is segmented into sample preparation services, sequencing & analytical services, and data visualization & analysis services. Data visualisation and analysis services came second followed by sequencing and analytical services in 2023. Segment on sample preparation services grew quickest among all others. The growing need for exact gene expression profiling in diseases research and medication development drives most of the huge proportion of sequencing and analysis services.
Based on Application, the spatial genomics & transcriptomics market is segmented into translational research and drug discovery & development. In 2023, the segment on translational research application share had the biggest portion of the market. The growing application of spatial genomics and transcriptomics to ascertain high-throughput data on the organisational structure of cell content from tissue and cell species helps to explain the significant portion of translational research segment.
Based on Product End User, Product End user divides the spatial genomics and transcriptomics products market into pharmaceutical and biotechnology firms, academic and research institutes, CROs and CDMOs, and clinical diagnosis laboratories. Academic and research institutes made the most proportion in 2023; then followed by CROs and CDMOs. Growing demand for exact cellular insights in sophisticated scientific research drives the biggest proportion of academic and research establishments. The fastest rising segment was the clinical diagnostics firms' one.
Based on Service End User, Service End user divides the spatial genomics & transcriptomics services market into pharmaceutical & biotechnology corporations, academia & research institutes, and other end users including small scale-CROs & CDMOs, and clinical diagnostic laboratories. Following pharmaceutical and biotechnology firms, the academic and research industry accounted for the highest proportion in 2023. A main driver of market development for academic and research institutions is the growing demand for instruments to map cellular environments and investigate disease processes. The fastest rising segment was pharmaceutical and biotechnology companies. Growing applications of spatial genomics in the evolution of improved medicines explain the expansion of the category.
Six main regions define the spatial genomics & transcriptomics market: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. While Europe is the second biggest regional market for spatial genomics and transcriptomics in 2023, North America is the largest. North America's high proportion can be ascribed to government financing, prominent players in the spatial genomics and transcriptomics market, well-established and rising biotechnology enterprises, and growing focus on individualised treatment. The Asia Pacific, however, is projected to be the fastest-growing segment of the market marked by rising healthcare needs, increasing government investment in biotechnology, growing demand of precision medicine, rising healthcare expenditure, expanding R&D development in important markets including India, China, and Japan, and the favourable regulatory environment in the region.
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The spatial genomics and transcriptomics market is consolidated with key players such NanoString Technologies, Inc. (Bruker Spatial Biology, Inc.) (US), 10x Genomics (US), Bio-Rad Laboratories, Inc. (US), Illumina, Inc. (US), Bio-Techne (US), Seven Bridges Genomics (US), Standard BioTools (US), Revvity (US), Akoya Biosciences, Inc. (US), Natera, Inc. (US), VisioPharm A/S (Switzerland), Danaher Corporation (US), Veracyte, Inc. (US), Macrogen, Inc. (South Korea), Miltenyi Biotec (Germany), Vizgen Inc. (US). The market players have adopted various strategies such as development of advanced products, services, partnerships, contracts, expansions, and acquisitions to strengthen their position in the spatial genomics and transcriptomics market. The organic and inorganic strategies have helped the market players expand globally by providing advanced spatial genomics and transcriptomics products and services.
NanoString Technologies Inc. (US)
NanoString Technologies, Inc. is a public company that makes tools for translatable study and molecular diagnostics in the life sciences. NanoString has made a number of tools that allow scientists to look at gene and protein activity in a single piece of tissue. The company is steadily growing and being seen in the market. NanoString has the most revenue of the companies on the list. Its GeoMx Digital Spatial Profiler is a big part of how well it does in spatial transcriptomics, especially in oncology and immunology studies.
Bio-Rad Laboratories, Inc. (US)
Bio-Rad Laboratories, Inc. is a world leader in creating, producing, and selling a wide range of study and diagnostic tools for life sciences. Bio-Rad provides a wide range of instruments, software, services, and materials for life science study, such as genomics and transcriptomics, but its revenue share is lower than that of some other companies. The company's slow growth suggests that it is focussing on a specific niche. Its products help researchers study gene expression and cellular interactions within tissues, which gives them important information about how diseases work and possible therapeutic targets. These products are not directly competing with other spatial platform technologies.
Bio-Techne (US)
Bio-Techne is well-known for its RNAscope technology in the framework of spatial genomics and transcriptomics since it enables single-molecule sensitivity and subcellular resolution of RNA expression. From neuroscience to cancer research to infectious diseases, this technique is extensively applied in many disciplines to offer thorough understanding of gene expression and cellular interactions inside tissues. Steady revenue growth of Bio-Techne suggests continuous demand for its reagents throughout spatial applications, including genomics, so enabling its increasing position in the market.
10x Genomics (US)
10x Genomics is a major life sciences company offering revolutionary technologies for single-cell and spatial biology research. The company provides technologies that help researchers investigate biological systems with unparalleled resolution. lox Genomics offers Visium Spatial Gene Expression and Xenium In Situ platforms for spatial and transcriptomics research. These tools enable scientists to map gene expression in tissue sections, revealing cellular composition, relationships, and spatial organisation. lox Genomics' technologies combine histology and gene expression data, enabling researchers to gain new insights into health and illness.
Illumina, Inc. (US)
Illumina is a global pioneer in genomics and molecular diagnostics, offering advanced sequencing and array technologies for many applications. Illumina provides comprehensive solutions for the research, clinical, and application markets. Illumina offers sequencing platforms and software analysis tools for spatial genomics and transcriptomics, integrating with partner solutions to deliver a comprehensive solution. Their technology allows researchers to map gene expression in tissue sections, revealing cellular composition, relationships, and spatial organisation. Illumina's tools combine histology and gene expression data, enabling researchers to gain new insights into health and disease.
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